The market right now is hot. Prices are up by 12.0%.
You should be able to sell it easily, right?
But, what if you’re property isn’t selling.
We are writing this because we’ve been there, too.
We know how frustrating it is to try hard to sell a house without success. You just finished doing all this hard work to sell your home, but things aren’t going as planned.
You might have remodeled it. You may have even installed a new carpet and layered on a fresh coat of paint. You’ve spent money, time, and effort to sell your house as fast as possible, but then nothing happens.
Your house just sits there and sits there. The agony and stress of this can feel crushing.
You catch yourself wondering: Why won’t my house sell? What do I need to do? Am I doing this all wrong?
Fortunately, there are a few things you can do when your home isn’t selling. And unfortunately, they may involve some compromise. They might also be less than ideal. But depending on your situation — it might be the only choice you have.
Trust me; I’ve been there before. Here are some things you can do:
1. Rethink your timing.
Although I’ve sold and bought houses in Oklahoma during any time of the year, I also know some times of the year are better than others. It’s all about the right timing.
Let’s just be honest; maybe right now isn’t a good time to sell your house.
That may be a tough pill to swallow, but if your house isn’t selling fast, you might have to wait. According to Redfin, June is the best time to sell your home in Oklahoma. Now, this may be different depending on the market.
One study from Homelight found that April was the best time to sell a home in San Francisco, while that same month was the worst time to list a home in San Diego.
You might have listed your house, and it’s just not the right time. I do recommend that you review the data for your local market. It just means you might have to wait a little longer to sell your home.
2. Reconsider your price.
If a home is priced too high initially, people may pass it up. The listing will slowly make its way down the list, so even if you drop the price to something more reasonable, you won’t have as many prospective buyers seeing the listing.
Do your homework, and know what your home is worth. Setting a specific price will show prospective buyers that you know what you are talking about and have maintained the home’s quality. Round numbers can make it seem like you have no idea what you’re doing. “$150k? That sounds about right!” If you and your agent conclude that your home is worth $196k, you might want to ask $206k.
You have to find that sweet spot. I like to see what houses in the area have sold for in the last three months – but in this market 50 days. It will give you a better idea of the market. Often, listing pricing can be misleading. Once I look at similar houses that have sold in the last three months, I also look at the features they have.
Do you have granite countertops? Are they remodeled? Does your home have curb appeal? Does your property match its depiction online? If my house is truly delightful, I know I can sell it for a little more. But if I’m honest and know that my property isn’t quite as lovely, I’ll have to lower the price.
Just because you added a $25,000 kitchen upgrade or built a $50,000 pool in the backyard does not mean the house has increased in equivalent dollars.
If the most expensive house in your neighborhood has a price of $200,000, then your house will be closer to that price.
There’s an easy way to overprice a house; it should be based on the original purchase price, plus the cost of upgrades.
So, it may be time to lower the price to get it sold faster.
3. Revamp your photos or description.
Any aspect of a lousy listing or advertisement will make people look the other way. Quite often, you will see listings with bad or limited photos. To have a successful listing, you should take the time to clean the clutter out of the house.
Ensure there is a lot of natural light in the photos and even opt to bring in a professional when needed. Paying a little upfront will make a big difference in how your listing is received. You should also make sure the ad copy is on point. Highlight the positive features and amenities of the house.
4. Fix the curb appeal.
The exterior of your house will determine whether or not people even walk into your home. You’ve likely heard the phrase, “Don’t judge a book by its cover,” but when it comes to home buying, this is often the case. This is your first opportunity to make sure potential buyers fall in love with your home.
Simple things go a long way. Mow the lawn, weed the garden, and keep it regularly maintained.
Paint if necessary.
Repair cracked sidewalks and porches and tend to any boards that may have popped up. Make sure the furniture is clean, rust-free, and flows with the exterior of the home.
Fix your fixtures. Mailbox, doorknobs, and address numbers should all look clean and bold.
But as mentioned earlier, don’t upgrade the house to the point where you’re going to lose money.
Even after you do all these things — maybe your house still won’t sell. So what can you do? You could rent it and cover your mortgage. You could AirBnB the property. You could also decide to stay put in the house.
Or you could consider selling your home to a home buyer like us.
Lowering the price or even waiting for a better time to market are options where you’ll get more money for your house. But if you find yourself in a place where you need to sell your house in 10 business days or fewer, we might be a good fit.
Let us help you sell your house in a stress-free process.
Did we miss anything? Let us know in the comments below.